Technologies that survive and thrive are known to evolve, from birth-stage (when they are relatively new), to when adoption begins, and after some time when demand is shooting through the roof.
Live chat is not any different. Its journey as a piece of tech built to help in customer service communication is quite remarkable. Demand is high, now more than ever and statistics predict more demand in future.
The chat solution is usually embedded on a retail website to bridge the gap between online merchants and their clients. Live chat support enables retailers to engage and interact with their customers in real-time—where the client chats with a human agent or chatbot.
Worldwide Acceptance of Live Chat
The shift to more digital platforms and the demand for easier ways to conduct business online are the two forces behind the increasing acceptance of live chat support.
Worldwide expansion of ecommerce expansion, international tourism industry and (surprisingly) the gambling sectors are also contributing significantly to the growing need for chat solutions.
In general, more and more ecommerce retailers continue to view Live Chat as a priority interaction tool that simplifies the sales of good and services online.
So we are looking at a market that is on the up and a piece of tech that will continue disrupt how retailers engage shoppers or clients.
Here are some statistics to prove it;
- In 2016, the World’s live chat Market was worth $590 million
- Come 2023, the market is predicted to hit over $995 million
- An online retail store indulges in over 970 chats every month (a digit increasing YOY)
- More than half (56 percent) of businesses serving less than 100 clients use live chat
That said, let’s also look at the demand for chat solutions to understand why retailers are pacing the acceptance of this technology.
Customer Demand for Live Chat
Satisfying savvy customers with ever-changing needs is a not an easy task— retailers must be flexible enough to change when shoppers change.
Live chat support is considered a trending channel for customer engagement, even outshining its competitors like phone calls and email.
The modern-day shopper prioritizes the “ease of access” of the retailer when deciding which online business to buy from.
A buyer wants immediate response when they reach out to inquire anything about your product or service before or after a purchase.
Live chat support present merchants with the perfect platform to engage their clients in real time, unlike other customer support channels.
With ecommerce advancing towards same-day shipping same-day delivery, emails can be slow, and phone calls can be difficult to manage.
Live chat is therefore the easiest and fastest way to listen and solve issues when dealing with digital customers.
- 93% of clients are more contented chatting live during business interactions than using other customer support channels.
- Chatting is the customer’s most common contact point. Nearly half (45 percent) of clients use it over channels like social platforms or email.
- Customers of all ages are okay with live chat support, 1/3 of grownups and the older generation prefer it.
- More than 90 percent of shoppers find real-time support crucial to the product search and purchase process. In fact, more that 85 percent of consumers include it in the top three components of a retail site.
Adopt Chat to Unlock More Business
Live chat does not only ease customer support, it also allows you to unlock new doors. Here are some stats to prove it
- Visitors who chat are 4.5 times more than those who do not.
- 60 percent of shoppers are likely to buy online if a retailer offers live chat assistance.
- More than 80 percent of retailers admit embedding live chat has impacted sales, shopper loyalty and income.
Chat has also been found to be 15 to 30 percent less expensive than telephone support so you may want to consider this cheaper way to engage customers.
Final Words
These figures are a sign having a chat solution is no longer something you want to discuss in your AOBs. Live chat support will continue to be an agenda in 2020 and beyond. Always research more on best practices to ensure correct implementation.
